Breadcrumb

September 24, 2009 (1:45 p.m. EDT)No. 273

Minister Day Strengthens Canada’s Economic Ties with Kazakhstan

The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today wrapped up his visit to Astana, Kazakhstan, where he made a number of announcements to advance Canada’s bilateral relationship with that country, Central Asia’s most prosperous state.

Kazakhstan is an important country for Canada in Central Asia, and Canadian exports to that country doubled in 2008 from the year before. Currently, more than 170 Canadian companies are active in Kazakhstan, and more than 40 have a permanent presence there.

“Canada is among the top 10 foreign investors in Kazakhstan, with well over $2 billion of direct investment, particularly in the uranium mining sector,” said Minister Day. “The commitments we made this week will help Canada and Kazakhstan to build an even stronger economic relationship in the years to come.”

Following meetings with senior officials in the Kazakh government, including Prime Minister Karim Masimov and Industry and Trade Minister Aset Issekeshev, Minister Day:

announced the conclusion of negotiations on a nuclear cooperation agreement with Kazakhstan;

launched discussions to establish a foreign investment promotion and protection agreement to strengthen the investment relationship between the two countries;

signed an agreement to establish a joint economic commission to help build a stronger trade relationship and to provide a regular, high-level forum where both countries can resolve any trade irritants or impediments to trade and also identify new opportunities;

Minister Day also welcomed the recent sale and delivery of Bombardier CRJ850 and CRJ870 jets to EuroAsia Air. This transaction is another example of the vibrancy of Canada’s aerospace industry.